Home Buying in Troy>Question Details

Surin, Home Buyer in Troy, MI

I just came to Detroit on L1 visa & got no US credit history. I am OK with higher down payment. Any ideas - how to qualify for a mortgage?

Asked by Surin, Troy, MI Thu Mar 21, 2013

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Brian Luck’s answer
Typically in these cases, any lender will require two years of U.S. tax transcripts (returns) before issuing a mortgage... however, depending on your prior working history, there may be a local bank or credit union that would possibly be able to pre-approve you for a mortgage.
One that comes to mind is "Macomb Schools and Government Credit Union"; you can google them for the closest branch, and either apply online or set up a face-to-face meeting.
Hope this helps!
Brian Luck
Keller Williams Realty
1 vote Thank Flag Link Thu Mar 21, 2013
I came with an L2 (my husband was the L1) and I can tell you, regardless of the down payment you will need to wait until you have at least two tax returns. So not necessarily 2 years, but two tax returns. In the meantime, it is a good idea to work with a mortgage broker to get advice on how to build your credit.

I work with a broker that, like me, specializes in international buyers.

Maria E. Garcia
(810) 599 6838
0 votes Thank Flag Link Thu Apr 18, 2013

It is a good idea to wait for few months and you get stabilized. Most lenders would need 2 year USA working history. Talk to few mortgage member and see what they can do for you.

Good luck.
0 votes Thank Flag Link Thu Mar 21, 2013
Dear Surin, You'll not be able to scure Mortgage but still you can buy a home with good down payment in a form of land contract (the home owner will act as a bank to you) call me to explain more if you want (313) 467-2044 Empire Realty group / associate broker.
0 votes Thank Flag Link Thu Mar 21, 2013
L1 visa is for intercomany transfers for global corporations having operations in US.
0 votes Thank Flag Link Thu Mar 21, 2013
What is L1 visa , I know c1,d,b1,b2,k1,k2 and H visa
0 votes Thank Flag Link Thu Mar 21, 2013
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